Exim Bank sanctions $ 398 mn loan to Ghana for railway line

27 Nov

moneycontrol.com 24 Nov, 2016

Exim Bank has provided a loan of over USD 398 million for design and construction of an 84-km railway line between Tema and Akosombo in Ghana. Exim Bank has extended a buyer’s credit (BC) under National Export Insurance Account (NEIA) of USD 398.33 mn to the Government of Ghana. The agreement to this effect was signed in Accra, Ghana, on November 22, 2016. It has also extended seven India-supported lines of credit (LOCs) to Ghana aggregating USD 208.26 million for export of railway corridors and agro processing plant. These funds are also utilised towards equipment and services for rural electrification, construction of presidential office, fish processing and sugar plant.

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